Kenyan shilling eases on importer demand

NAIROBI: The Kenyan shilling eased on Thursday, thanks to demand for dollars from manufacturers, and traders said they expected it to maintain a weakening bias.

At 0826 GMT, commercial banks quoted the shilling at 87.10/25 to the dollar, compared with Wednesday's close of 87.00/10.

In early trade, the shilling touched 87.15/25, traders said.

"We have seen good demand in the last two days (from) manufacturers," said Andlip Nazir, a senior trader at I&M Bank. "It (shilling) weakened last evening and today in the morning."

Traders said they see the shilling trading in the 86.80 to 87.30 range in coming days.